Danny Sullivan, VP of global digital experience at Pizza Hut, voiced his concerns at the 2014 Mobile Shopping Summit last week, "I am more pessimistic about Apple Pay's impact than most people here.

"I had a call with Apple last week and right now it is only a payment system for apps. It is shut off from the mobile web, which I think everyone knows is a bigger part of everyone's business from mobile devices."

The good news for Apple is that the app has also received considerable support, in particular from fashion giant Calvin Klein, who said, "My instinct is it is a game changer.

"The alternative mobile payments space — I read there are 26 different ones — I think this one is going to be the tipping point in the whole process just because there are 500 million iTunes account holders, 22,000 retailers have already signed on and how easy it is to go on iTunes and buy something."